Free, one-hour educational seminars titled “Smart Social Security Planning” will be held on June 19 and June 21 in the St. Peters/ O’Fallon area. These seminars are designed for “baby boomers,” people who have recently retired or who are approaching retirement age, according to Craig North of North Brothers Retirement Strategies, one of the presenters.
“We are holding these free educational seminars because so many retirees and those nearing retirement age do not understand how their Social Security benefits really work,” North said. “And, most baby boomers do not understand the options available to them.”
Craig North has been trained in the most up-to-date Social Security planning techniques and tools, and is a licensed member of the National Social Security Advisor (NSSA) group, an educational association dedicated to providing its members with the latest Social Security planning tools.
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Mr. North said the majority of financial advisors do not understand how Social Security works or how retirement-age men and women need to plan to be able to best utilize their Social Security benefits.
“Deciding when to start taking Social Security benefits can have a tremendous impact on the amount of benefits an individual receives during his/her lifetime,” he said. “One of the easiest ways to understand your retirement is to imagine it as a carton of eggs – your nest eggs, so to speak. Deciding how to arrange your nest eggs, and how to crack those nest eggs in the most beneficial order, is what we are trying to teach baby boomers.”
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As an example, Mr. North said individuals could incur a penalty of as much as 30 percent of their benefits if they start taking them at age 62.
“That’s one of the advantages of attending this seminar,” he said. “We’re going to educate folks about their options and how those options can affect them positively and negatively.”
Mr. North said other information that will be presented at the seminar includes:
What the Social Security office doesn’t tell you
When it makes sense to delay benefits and when it does not
Why checking your earnings records for accuracy is important
How to coordinate your benefits with those of your spouse for maximum potential
Reducing or eliminating taxes on your Social Security retirement benefits
Ways to integrate your Social Security benefits with your overall retirement plan.
He said the seminars will also cover Social Security basics and will also reveal little-known strategies for maximizing Social Security benefits.
“If you are recently retired or approaching retirement age,” he said, “attending a seminar will be time well spent.”
He stressed that the seminars are free and nothing will be sold. The seminars will be held at 6:00pm at Middendorf-Kredell Branch Library in O’Fallon on June 19; and Spencer Road Branch Library in St. Peters at 1:30pm on June 21. Because there is limited seating, people interested in attending or who would like additional information should call toll free (877) 745-5505 to reserve a seat.